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RSM100Y1 (431)
John Oesch (214)
Chapter 8

Chapter 8 - Managing Human Resources

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University of Toronto St. George
Rotman Commerce
John Oesch

Chapter 8Managing Human ResourcesThe Foundations of Human Resource ManagementHuman Resource Management is the set of organizational activities directed at attracting developing and maintaining an effective workforceThe Strategic Importance of HRMHuman Resources are critical for effective organizational functioningThe new importance of HRM stems from increased legal complexities the recognition that human resources are a valuable means for increasing productivity and the awareness of the costs associated with poor human resource managementJob AnalysisJob Analysis means analyzing the nature of jobs and requires the assessment of two itemsThe Job Description lists the duties of a job its working conditions and the tools materials and equipment used to perform itThe Job Specification lists the skills abilities and other credentials needed to do the jobForecasting HR Demand and SupplyAfter managers have analyzed the jobs that must be performed within an organization they can start planning for the organizations future HR needsAssessing HR Demand comes from assessing HR trends future organizational plans looking at sales forceasts and reading historical dataForecasting the supply requires looking at both internal and external supplyReplacement Charts are sometimes made at higher levels of the organization and list specific jobs who are in them how long they are likely to stay there and who can replace themThese charts allow HR professionals to see where they have too many qualified people for too few positions or vice versaTo help with planning and identifying people for transfer and promotion some organizations also have employee information systems aka skill inventoriesThe systems are usually computerized and contain lots of information about every employeee and can help find people to fill positionsStaffing the Organization Recruiting is the process of attracting qualified persons to apply for the jobs that are openInternal Recruiting means consdering present employees as candidates for openings promotions from within can help build morale and keep highquality employees from leavingExternal Recruiting involves attracting people outside the organization to apply for jobs and may include hiring for internships shortterm paid positions where students focus on a specific project If the person does well in an internship they can be expected to be hired on fulltimeSelecting Human Resources
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